Revenue Cycle Management

As hospitals struggle with the pace of change, and some in a fight to survive, we assembled this digest of current thoughts on the future of healthcare in the year ahead. Technology is on the horizon for healthcare in 2019, along with drug delivery and pricing, the redefinition of care, and ongoing divisions in the political arena.

What are some hospital patient access best solutions? In a nutshell, smart technology, a financial focus, and staff training in a culture that puts patients’ needs first. The devil is in the details, so we’ve prepared this comprehensive overview to help you decrease denials, shorten A/R days, and collect more up front at point of service.

Will blockchain technology increase the likelihood of receiving patient payments? Can robust hospital revenue cycle technology make it easier, and therefore more likely for patients to pay? These questions are covered in detail via analysis of current news about the hospital revenue cycle (RCM) industry.

Payer Partnerships. Smart use of analytics. Pricing Transparency. We found a number of trends for hospital revenue cycle management (RCM) as we head into 2018. In addition to tactics, some concepts like “patients as consumers,” and “patient experience” are front and center this year.

Solutions for smart hospital revenue cycle management continue to evolve as technologies, workflow processes, and cross-team integration strategies improve. Even so, a recent report showed larger hospitals are on average leaving $22 million in revenue capture on the table. What can be done to address this?

Prior authorization is the name given to the process of establishing medical necessity for medical services, prescription medication, or medical equipment. Insurers require this approval prior to the patient obtaining services, except in emergency situations. Learn how technology can be used to streamline this process to help improve the revenue cycle processes.